Circle Secures EU Stablecoin License as MiCA Crypto Regulations Take Effect
Posted: Tue Jul 02, 2024 1:21 am
Circle Secures EU Stablecoin License as MiCA Crypto Regulations Take Effect
Read more here:
https://decrypt.co/237893/circle-eu-sta ... egulations
Circle, the issuer of the USDC and EURC stablecoins, has announced its compliance with the European Union's Markets in Crypto-Assets (MiCA) regulatory framework, becoming the first global stablecoin issuer to do so.
The company obtained an Electronic Money Institution (EMI) license from France's banking regulatory authority, the Autorité de Contrôle Prudentiel et de Résolution (ACPR).
"Since our founding, Circle has sought to build durable, compliant, and well-regulated infrastructure for stablecoins, and our adherence to MiCA, which represents one of the most comprehensive crypto regulatory regimes in the world, is a huge milestone in bringing digital currency into mainstream scale and acceptance,” said Circle co-founder and CEO Jeremy Allaire, in a release.
MiCA took effect in June 2023 and offers a robust regulatory scheme for crypto assets across the European Union. While it implemented stricter rules about some elements of the crypto industry, it also provides clear guidelines for crypto firms to work within.
Read more here:
https://decrypt.co/237893/circle-eu-sta ... egulations
Circle, the issuer of the USDC and EURC stablecoins, has announced its compliance with the European Union's Markets in Crypto-Assets (MiCA) regulatory framework, becoming the first global stablecoin issuer to do so.
The company obtained an Electronic Money Institution (EMI) license from France's banking regulatory authority, the Autorité de Contrôle Prudentiel et de Résolution (ACPR).
"Since our founding, Circle has sought to build durable, compliant, and well-regulated infrastructure for stablecoins, and our adherence to MiCA, which represents one of the most comprehensive crypto regulatory regimes in the world, is a huge milestone in bringing digital currency into mainstream scale and acceptance,” said Circle co-founder and CEO Jeremy Allaire, in a release.
MiCA took effect in June 2023 and offers a robust regulatory scheme for crypto assets across the European Union. While it implemented stricter rules about some elements of the crypto industry, it also provides clear guidelines for crypto firms to work within.